SEC Shuts Down WeedGenics For $60 Million Alleged Cannabis Ponzi Scheme May 26, 2023 AggregatedNews News & Insights 0 Comments The U.S. Securities and Exchange Commission (SEC) has announced that it has obtained an emergency order to shut down WeedGenics, an alleged Ponzi-like scheme orchestrated by two individuals who managed more than $60 million from investors by promoting a fraudulent… Read More→
Not a 404 Error: Understanding SOX 404, How it Works, and How it Affects Your Cannabis Business December 13, 2021 Dan Roda Banking, Finance & Real Estate, Compliance and Regulations 0 Comments As many cannabis companies tread through the miles of red tape and changing business landscapes that make up the U.S. cannabis industry, many of their business owners and their investors are faced with questions and deep concerns as they explore… Read More→
SEC Sues Cannabis Players for $25 Million Offering Fraud August 4, 2020 AggregatedNews Federal 0 Comments By Jihee Ahn, Attorney at Harris Bricken In the most basic terms, offering fraud occurs when a person (or entity) makes material misrepresentations or omissions to potential investors in a new company (most commonly, promising those investors large “guaranteed” returns… Read More→